Registration No. 33-60340
Rule 424(b)(3)
SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED SEPTEMBER 20, 1993
Merrill Lynch Mortgage Investors, Inc., Seller
Senior/Subordinate Mortgage Pass-Through Certificates,
Series 1993F, Class A-1, A-2, A-3, A-4, A-5 and A-6 (Senior)
MERRILL LYNCH CREDIT CORPORATION
Master Servicer
_________________________________________________________________
On September 23, 1993, the Senior/Subordinate Pass-Through Certificates,
Series 1993F, Class A-1, A-2, A-3, A-4, A-5 and A-6 (the "Class A
Certificates") were issued in an approximate original aggregate principal
amount of $266,044,740. The Class A Certificates represented beneficial
interests of approximately 97.10% in the Trust Fund created pursuant to a
Pooling and Servicing Agreement dated as of September 1, 1993 by and among
Merrill Lynch Mortgage Investors, Inc, as seller, Merrill Lynch Credit
Corporation, as master servicer, and Bankers Trust Company of California,
N.A., as trustee. This Supplement to the above-referenced Prospectus
Supplement (the "Prospectus Supplement") supplements and updates certain of
the information set forth in the Prospectus Supplement. Capitalized terms
not defined herein have the meanings ascribed to them in the Prospectus
Supplement.
The first two tables set forth after the first paragraph under the
heading "MLCC and its Mortgage Program--Delinquency and Loan Loss Experience"
on page S-42 of the Prospectus Supplement are hereby updated, in their
entirety, as follows:
<TABLE>
PRIMEFIRST(Registered Trademark) LOAN DELINQUENCY EXPERIENCE
(Dollars in Thousands)
<CAPTION>
December 31, 1996 December 31, 1995 December 31, 1994
-------------------------- ---------------------------- -------------------------
Number of Number of
PrimeFirst Principal Number of Principal PrimeFirst Principal
Loans Amount PrimeFirst Loans Amount Loans Amount
----------- --------- ---------------- --------- ---------- ---------
<S> <C> <C> <C> <C> <C> <C>
PrimeFirst Loans
Outstanding . . . . . . . . 11,054 $4,331,131 8,272 $3,536,761 7,615 $3,351,328
Delinquency Period
30-59 Days . . . . . . . . 180 $ 84,297 127 $ 56,370 121 $ 86,279
60-89 Days . . . . . . . . 19 6,583 13 7,917 20 18,152
90 Days or More* . . . . . 29 27,590 44 45,749 17 19,257
------ ---------- ----- ---------- ----- ----------
Total Delinquency . . . 228 118,470 184 $ 110,036 158 $ 123,688
====== ========== ===== ========== ===== ==========
Delinquencies as Percent
of Number of PrimeFirst
Loans and Principal Amount
Outstanding . . . . . . . . 2.06% 2.74% 2.22% 3.11% 2.07% 3.69%
Foreclosures . . . . . . . . 29 $ 39,100 28 $ 38,209 18 $ 15,637
Foreclosures as Percent
of Number of PrimeFirst
Loans and Principal Amount
Outstanding . . . . . . . . 0.26% 0.90% 0.34% 1.11% 0.24% 0.47%
</TABLE>
_________________________________
* Does not include loans subject to bankruptcy proceedings.
<TABLE>
PRIMEFIRST(Registered Trademark) LOAN LOSS EXPERIENCE
(Dollars in Thousands)
<CAPTION>
Year Ended Year Ended Year Ended
December 31, 1996 December 31, 1995 December 31, 1994
----------------- ----------------- -----------------
<S> <C> <C> <C>
Average Principal Balance of PrimeFirst
Loan Portfolio . . . . . . . . . . . . . $3,933,946 $3,444,045 $2,807,875
Average Number of PrimeFirst Loans
Outstanding
During the Period . . . . . . . . . . . . 9,663 7,944 6,287
Gross Charge-offs . . . . . . . . . . . . . $ 6,157 $ 1,840 $ 457
Recoveries . . . . . . . . . . . . . . . . 0 0 0
---------- ---------- ----------
Net Charge-offs . . . . . . . . . . . . . . $ 6,157 $ 1,840 $ 457
========== ========== ==========
Net Charge-offs as a percent of Average
Principal Balance Outstanding . . . . . . 0.16% 0.05% 0.02%
</TABLE>
Additionally, the information contained in the table entitled "Range of
Cut-Off Date Group 1 Mortgage Loan Principal Balances", "Margins in Loan
Group 1", "Range of Cut-Off Date Group 2 Mortgage Loan Principal Balances"
and "Cut-Off Date Group 3 Mortgage Loan Principal Balances" under the heading
"The Mortgage Pool" on pages S-27, S-30, S-33 and S-37, respectively, of the
Prospectus Supplement is hereby updated to indicate, as of December 31, 1996,
the Mortgage Loan Balances and margins of the Mortgage Loans:
<TABLE>
RANGE OF GROUP 1 MORTGAGE LOAN PRINCIPAL BALANCES AS OF DECEMBER 31, 1996
<CAPTION>
Number of % of Mortgage
Range of Mortgage Pool by
Principal Balances Loans Principal Balance Principal Balance
- ------------------------------------- --------- --------------------- --------------------
<S> <C> <C> <C>
$ 0.00- 49,999.99 . . . . . . 11 $ 221,513.93 0.20%
$ 50,000.00- 54,999.99 . . . . 1 51,007.92 0.05
$ 55,000.00- 59,999.99 . . . . 1 55,971.64 0.05
$ 60,000.00- 74,999.99 . . . . 7 469,115.51 0.43
$ 75,000.00- 99,999.99 . . . . 11 1,006,144.69 0.92
$ 100,000.00- 149,999.99 . . . 42 5,024,162.84 4.59
$ 150,000.00- 199,999.99 . . . 28 4,923,590.11 4.50
$ 200,000.00- 249,999.99 . . . 29 6,382,060.15 5.83
$ 250,000.00- 299,999.99 . . . 22 6,099,058.36 5.58
$ 300,000.00- 349,999.99 . . . 20 6,499,769.84 5.94
$ 350,000.00- 399,999.99 . . . 14 5,221,375.48 4.77
$ 400,000.00- 449,999.99 . . . 9 3,800,157.36 3.47
$ 450,000.00- 499,999.99 . . . 5 2,332,890.65 2.13
$ 500,000.00- 549,999.99 . . . 9 4,666,993.58 4.27
$ 550,000.00- 599,999.99 . . . 6 3,430,603.18 3.14
$ 600,000.00- 649,999.99 . . . 6 3,737,537.11 3.42
$ 650,000.00- 699,999.99 . . . 3 2,003,235.46 1.83
$ 750,000.00- 799,999.99 . . . 5 3,845,225.04 3.52
$ 800,000.00- 849,999.99 . . . 3 2,498,394.64 2.28
$ 850,000.00- 899,999.99 . . . 3 2,629,815.45 2.40
$ 900,000.00- 949,999.99 . . . 1 919,997.84 0.84
$ 950,000.00- 999,9999.99 . . . 3 2,951,950.00 2.70
$ 1,000,000.00- 1,099,999.99 . . 1 1,057,000.00 0.97
$ 1,100,000.00- 1,199,999.99 . . 3 3,369,331.47 3.08
$ 1,200,000.00- 1,299,999.99 . . 3 3,815,786.01 3.49
$ 1,300,000.00- 1,399,999.99 . . 4 5,335,000.00 4.88
$ 1,400,000.00- 1,499,999.99 . . 2 2,849,999.65 2.61
$ 1,700,000.00- 1,799,999.99 . . 1 1,748,725.99 1.60
$ 1,800,000.00- 1,899,999.99 . . 2 3,600,000.00 3.29
$ 1,900,000.00- 1,999,999.99 . . 2 3,949,515.04 3.61
$ 2,000,000.00- 2,099,999.99 . . 1 2,000,000.00 1.83
$ 2,400,000.00- 2,499,999.99 . . 3 7,286,486.47 6.66
$ 2,500,000.00- 2,599,999.99 . . 1 2,599,999.74 2.38
$ 2,900,000.00- 2,999,999.99 . . 1 2,998,593.71 2.74
--- --------------- -------
TOTALS . . . . . 263 $109,381,008.86 100.00%
=== =============== =======
</TABLE>
<TABLE>
MARGINS IN LOAN GROUP 1 AS OF DECEMBER 31, 1996
<CAPTION>
% of Mortgage
Number of Pool by
Margin/(1)/ Mortgage Loans Principal Balance Principal Balance
- ------------------ ------------------ -------------------- ---------------------
<S> <C> <C> <C>
-0.250% 11 $ 17,814,949.74 16.29%
-0.125% 25 16,327,394.00 14.93
0.000% 54 18,996,203.33 17.37
0.250% 47 9,630,665.30 8.80
0.500% 69 7,958,899.50 7.28
1.000% 4 573,888.99 0.52
1.250% 2 838,048.89 0.77
1.500% 12 19,631,712.35 17.95
1.625% 7 5,145,544.72 4.70
1.750% 19 9,889,868.11 9.04
1.875% 1 660,235.46 0.60
2.000% 5 1,180,670.96 1.08
2.250% 6 648,337.85 0.59
2.750% 1 84,589.66 0.08
----- ---------------- --------
TOTALS 263 $109,381,008.86 100.00%
===== ================ ========
</TABLE>
_________________________
(1) The Margin is added to or subtracted from (as indicated) the applicable
Prime Index to arrive at the Mortgage Rate, except when the Margin is
greater than or equal to 1.25%, but less than 2.75%, in which case it is
added to the applicable Six-Month LIBOR Index. For the Treasury Index
Loans, the Margin is 2.75%. Notwithstanding the foregoing, the Mortgage
Rate will not exceed its Maximum Mortgage Rate.
<TABLE>
RANGE OF GROUP 2 MORTGAGE LOAN PRINCIPAL BALANCES AS OF DECEMBER 31, 1996
<CAPTION>
Number of % of Mortgage
Range of Mortgage Pool by
Principal Balances Loans Principal Balance Principal Balance
- ------------------------------------- ---------- --------------------- --------------------
<S> <C> <C> <C>
$ 0.00- 49,999.99 . . . . . . 7 $ 257,995.55 0.89%
$ 50,000.00- 54,999.99 . . . . 3 159,032.99 0.55
$ 55,000.00- 59,999.99 . . . . 2 118,180.14 0.41
$ 60,000.00- 74,999.99 . . . . 3 204,671.24 0.71
$ 75,000.00- 99,999.99 . . . . 8 715,119.39 2.48
$ 100,000.00- 149,999.99 . . . 11 1,328,881.43 4.61
$ 150,000.00- 199,999.99 . . . 7 1,249,537.65 4.33
$ 200,000.00- 249,999.99 . . . 15 3,355,235.30 11.64
$ 250,000.00- 299,999.99 . . . 14 3,712,137.85 12.88
$ 300,000.00- 349,999.99 . . . 3 962,570.85 3.34
$ 350,000.00- 399,999.99 . . . 2 731,514.15 2.54
$ 400,000.00- 449,999.99 . . . 3 1,259,498.05 4.37
$ 450,000.00- 499,999.99 . . . 1 453,394.57 1.57
$ 500,000.00- 549,999.99 . . . 4 2,058,734.08 7.14
$ 550,000.00- 599,999.99 . . . 1 561,862.17 1.95
$ 600,000.00- 649,999.99 . . . 1 640,644.82 2.22
$ 650,000.00- 699,999.99 . . . 2 1,350,636.55 4.68
$ 700,000.00- 749,999.99 . . . 2 1,434,736.71 4.98
$ 750,000.00- 799,999.99 . . . 1 780,104.64 2.71
$ 800,000.00- 849,999.99 . . . 2 1,662,348.03 5.77
$ 900,000.00- 949,999.99 . . . 1 942,554.83 3.27
$ 1,200,000.00- 1,299,999.99 . . 1 1,294,853.59 4.49
$3,000,000.00 or Higher . . . . . . . 1 3,594,930.90 12.47
--- -------------- --------
TOTALS . . . . . . . 95 $28,829,175.48 100.00%
=== ============== ========
</TABLE>
<TABLE>
GROUP 3 MORTGAGE LOAN PRINCIPAL BALANCES AS OF DECEMBER 31, 1996
<CAPTION>
Number of % of Mortgage
Range of Mortgage Pool by
Principal Balances Loans Principal Balance Principal Balance
- -------------------------------------- --------- -------------------- -------------------
<S> <C> <C> <C>
$ 0.00- 49,999.99 . . . . . . . 3 $ 122,987.95 0.61%
$ 50,000.00- 54,999.99 . . . . . 1 54,029.99 0.27
$ 55,000.00- 59,999.99 . . . . . 1 58,450.70 0.29
$ 75,000.00- 99,999.99 . . . . . 7 618,184.93 3.05
$ 100,000.00- 149,999.99 . . . . 9 1,169,448.20 5.76
$ 150,000.00- 199,999.99 . . . . 7 1,252,693.61 6.17
$ 200,000.00- 249,999.99 . . . . 14 3,145,905.94 15.51
$ 250,000.00- 299,999.99 . . . . 12 3,248,537.76 16.01
$ 300,000.00- 349,999.99 . . . . 9 2,939,782.10 14.49
$ 350,000.00- 399,999.99 . . . . 5 1,842,764.98 9.08
$ 400,000.00- 449,999.99 . . . . 5 2,102,393.70 10.36
$ 450,000.00- 499,999.99 . . . . 1 458,759.10 2.26
$ 500,000.00- 549,999.99 . . . . 2 1,043,890.05 5.15
$ 550,000.00- 599,999.99 . . . . 1 594,741.44 2.93
$ 650,000.00- 699,999.99 . . . . 1 668,626.77 3.30
$ 950,000.00- 999,999.99 . . . . 1 966,581.15 4.76
--- -------------- -------
TOTALS . . . . . . . . 79 $20,287,778.37 100.00%
=== ============== =======
</TABLE>
____________________
The date of this Supplement is March 31, 1997.
